Status of the South Bend Area Housing Market: 01/31/07

by Nick Molnar on January 31, 2007

Â One definition of a buyer’s market is when the current supply of available homes exceeds six months demand, based on the last two years of sales. The average number of sales per monthÂ for 2005-6 in the Greater South Bend – Mishawaka MLS is 385. As of January 31st, 2007 there are 2,078 homes for sale. That is about a 5.4 month supply of homes – not enough to meet that definition of a buyer’s market but certainly a signal that sellers should dress to impress.